Whether Employers Realize It Or Not, It’s Now a Candidate-Driven Market

© christophe BOISSON - Fotolia.com© christophe BOISSON - Fotolia.com

The candidate-driven market is here to stay and the pace at which candidates are rejecting offers is quickening.

MRINetwork’s most recent Recruiter Sentiment Study says that  83 percent of the 333 responding recruiters describe the current employment market as candidate-driven. In three years, the percentage of recruiters who say candidates are in the driver’s seat has risen 29 points.

“It is definitely and without a doubt a candidate-driven market, however many employers are still laboring under the same processes as they did when it was an employer-driven market,” the twice yearly survey report notes, quoting one of the participating recruiters.

Hiring managers aren’t moving fast enough

It takes the typical candidate more than three weeks to get an offer, with 41 percent of recruiters saying it takes even longer, up to nine (9) or more weeks for an offer to be made. One in five candidates has to endure four or more interviews to get that offer.

Yet, as hiring managers take their time, candidates are moving on. Three-quarters of job offers that were rejected came after only the second or third interview. Most commonly, the time between the first interview a candidate has and an offer rejection falls between one and four weeks.

MRI-Why-reject-12.2014According to the survey, “Year-over-year data shows rejected offers after two weeks are on the rise, advancing four percentage points since the first half 2014 survey.”

As one survey respondent noted, “Many companies are too slow to pull the trigger which provides candidates with the time to investigate other opportunities.”

More candidates are rejecting offers

As a consequence, 31 percent of the recruiters reported their candidate rejected an offer because they took another one. Another 26 percent of recruiters said they had candidates turn down offers because they were too low.

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While compensation and benefits are important to candidates, almost half the recruiters in the survey said what candidates most want are greater opportunities for advancement.

“Today’s talent,” noted on recruiter, “are driven by their ability to advance and be recognized for a higher level of expertise.”

  • Bouchart

    Rubbish.

  • Mike

    You mean a company that gets paid to find workers when companies could try to do it themselves is saying that it is a difficult time to find workers. Could it be their responses might be influenced by their strong ulterior motive to have employers believe that workers are hard to find?

  • guest

    In High tech field, most tech workers and employer are treat as slave and master especially the outsource company from the third world. Believe me, I went through this relations not too long ago!

  • Stop Treason

    Oh NO! Not again! So much Daily LIES and Propaganda to make it seem like their are mass of Jobs available, when we all know the real truth that there are NO Jobs for Americans!

    All American Jobs are going to cheap cheap H-1B/L1, B1, J1 and all the other alphabet soup of cheap labor Work Visas to REPLACE all Working Americans.

    By creating fake article like “Whether Employers Realize It Or Not, It’s Now a Candidate-Driven Market” It makes it seem like there are plenty of jobs and we should open the Border and let all Third World Scabs fill them.

    NOT BUYING IT, NOT NOW, NOT EVER! Until all Work Visas are Abolished!

    • Brian Cheliotman

      Exactly. Countdown to “we have a worker shortage” cry. “We need to increase foreign worker visas because no Americans will take jobs”.

      Meanwhile, the average college graduate is graduating to a job at Target while some guy from India is taking his programming job down the street.

      • fubar_saunders

        Welcome to what has been happening in the UK and Europe for the last 10 years, fellas.

        Not nice, is it?

    • rs

      We all wanted the global economy, because we all wanted to sell our products and services abroad. Well, in a global economy human capital is global too. You can’t expect to have a certain freedom of movement for goods and capitals, but not the same for skilled people. Also, the H1Bs are in high demand especially since 2009. Why? Because the irresponsible practices at Wall Street generated a domino effect in every country in the world crushing their economies; the saddest part is, they’re not recovering like US. So, these people come here to study, filling universities, renting apartments, paying taxes, spending their money to live here, and then they look for a job. And in case you think they get the jobs because they get paid less, well the law says that their salary cannot be inferior to the salary of other people working there in the same position (Americans or not). Last, they’re no such thing as American person. This is a country of immigrants, in case you forgot.

  • MyDamnedFutileHope

    Same thing in Canada. Moved from Montreal to the national capital (Ottawa). Could only find a 6-month contract for work, after sending over 70 resumes and networking and schmoozing like a rabid nut for more than 5 months. I have over 10 years of HR experience and am bilingual. People were telling me that I’d have job offers left, right and center. Not quite.

  • HRguy

    This really is just a generality that may or may not be true depending on the industry, the feeders to that industry, and so many many more factors. Australia had a shortage of Dentists a few years ago, and the market followed the ‘candidate driven’ model as seen in a significant bump in remuneration. Now, the education sector has reacted accordingly, and we have a glut.. So it has been, and so it shall be.
    Cheers from http://recruitmentselectionprocess.com

  • David Hunt, PE

    When the job search networking groups are empty, I’ll believe this.

  • Adam Langley

    I believe you mean “until his geek gene *led* him to launch…” Thanks for the article.

    • Jay Averageman

      Two months later, still not corrected! Haha! And people think authors read comments … or care …

  • Joey

    Bullshit

  • Wanda

    I don’t believe that there’s been a change in the hiring market for eons; it is the same cyclic supply and demand. What has changed is the scope: now we all compete on a world market and the variable is reduced salary requirements. Greed has totally permeated our corporations and there isn’t a requirement for quality workers anymore; they’re looking for the cheapest workers so they can increase profit margins perhaps at the expense of tomorrow’s profits?? What we really need is business leaders with more foresight.